The present disclosure relates to systems and methods for enabling convenient and secure mobile payments.
Online shopping and other forms of electronic commerce allow consumers to purchase goods or services using the Internet. With the proliferation of tablets, laptops, smartphones, portable computers, and other mobile devices, end users are able to purchase a wide range of goods and services from an online merchant using their mobile devices without being tied to a particular geographic location. To make an online purchase, an end user may enter and submit payment information to the online merchant, such as credit card information, during an online checkout procedure using their mobile device. The payment information may correspond with a banking card issued to the end user. The payment information may include the card holder's name, the expiration date for the card, an account number associated with the card, and card verification information. Banking cards may include credit cards, debit cards, ATM cards, cash cards, pre-payment cards, and other cards issued to the end user by a banking institution or other institution acting to promote financial transactions (e.g., fuel cards for use at gas stations or transit cards for facilitating electronic transit fare payments). In some cases, during an online checkout procedure or other financial transaction, the end user may be required to enter a password or a personal identification number (PIN) in order for an online purchase to be authorized. PINs (or PIN codes) are typically generated by a card issuer (e.g., a card issuing bank) and sent to end users apart from the card (e.g., via email or traditional mail). PINs used to secure an online transaction may comprise static PINs that do not change over time or dynamic PINs that change over time (e.g., a new PIN may be used for every transaction).